🎉 Exciting news! Babylon has successfully completed a $70M raise led by Paradigm to advance trustless Bitcoin staking. 🚀
💪 Bullish and Polychain Capital join forces to propel Babylon’s vision forward. 🌟
The funding, led by Paradigm, received significant contributions from:
HashKey Capital, Hack VC, Galaxy, IOSG Ventures, Breyer Capital, Amber Group, Mantle Network, HTX, ViaBTC Capital, LD Capital & imToken.
🏆 The round also saw participation from prominent validators such as:
P2P.org, Allnodes, Everstake, InfStones, Luganodes, Stakin, RockX, Stakewithus, 01node, Nodes.Guru & Bware Labs.
And noteworthy angels including: Ryan Fang, Nikita Sachdev, Ray Jiang, Waikit L., SmokeyTheBera, chainyoda & domodata.
🌐 This latest round of investment will propel Babylon’s mission to enable a Bitcoin-secured decentralized economy. Babylon Bitcoin Staking protocol allows PoS systems like PoS chains, L2s, DA layers, oracles, etc., to acquire staking capital from Bitcoin.
⚙️ Through its modular design and slashing functionality, Babylon Bitcoin Staking protocol will enable PoS systems to introduce Bitcoin as a staking asset and enjoy higher crypto-economic security than native tokens can provide.
💼 As a result, PoS systems can utilize Babylon’s scalable staking and restaking features to unlock value from the idle, unencumbered $1+ trillion Bitcoin ecosystem.
📢 David Tse, co-founder of Babylon, said, "We are thrilled by the confidence shown by Paradigm, Bullish Capital, Polychain Capital, and other investors. This funding will accelerate our mission to make Bitcoin the security backbone of PoS systems."
